Mining Intelligence Articles & Market Analysis - Page 139
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Quimbaya Gold Announces Termination of LOI with Denarius Metals
Quimbaya Gold's joint venture with Denarius Metals for artisanal mining at Tahami was terminated; Quimbaya retains full ownership and continues exploration plans.
Galloper Gold Clarification Release
Galloper Gold clarifies its recent EML license award on Glover Island, covering the historic LPSE gold resource, with no new exploration since 2012, within a mineral-rich 11 km corridor.
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Sanatana Announces Market Making Services Agreement with Independent Trading Group
Sanatana Resources hires ITG for one-month market-making to boost share liquidity, paying $5,000 monthly, with automatic renewal and no equity compensation.
Silver47 and Summa Silver Complete Merger to Create a Premier U.S. High Grade Silver Explorer & Developer
Silver47 and Summa merged to form Silver47 Exploration Corp., a U.S.-focused high-grade silver explorer with significant resources in Alaska, Nevada, and New Mexico.
Element 29 Announces Upsized Private Placement of up to $6,400,000
Element 29 Resources increases private placement to $6.4M for exploration in Perú, issuing units with shares and warrants, pending TSX-V approval.
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Independence Gold Provides an Update on the Winter Drill Program at the 3Ts Project, BC
Independence Gold Corp. is conducting a winter drilling program at its 100% owned 3Ts Project located in British Columbia. The project, covering 8,840 hectares, includes seventeen mineral claims and is located near Artemis Gold Inc's Blackwater Project. The drilling program includes a minimum of 7,500 meters of diamond drilling with an estimated budget of $3.5 million. Six infill holes have been completed in the Ted-Mint and Tommy Vein Systems, and the samples are being sent for analysis. Future drilling will test more potential targets such as the Ian and Johnny vein systems, with additional drilling to focus on untested targets including Ootsa, Balrog, and Alf veins.
Viscount and Centerra Gold Commences Drilling at Cherry Creek, Nevada
Viscount Mining Corp. and its partner, a subsidiary of Centerra Gold Inc., have initiated their drill program at the Cherry Creek property in Nevada. The first target is a large soil and rock sample molybdenum and gold geochemical anomaly, which may suggest a mineralized porphyry at depth. The second target is to test the continuation of the mineralized Exchequer Fault zone in the southwest part of the property. The plan is to drill approximately seven Reverse Circulation (RC) holes, for a total of 1,500 meters.
Talon Metals Michigan Update: Drilling Hits 110.3 Meters of Copper & Nickel Mineralization at 9.59 Meters
Talon Metals Corp. has reported positive results from its exploration drilling at the Boulderdash target in Michigan's Upper Peninsula. The company's three latest drill holes have intersected significant amounts of copper-nickel sulphide mineralization. Drill holes notably encountered a 110.3-meter interval of mineralized intrusion and intersected multiple mineralized intervals. The company's Chief Exploration and Operations Officer, Brian Goldner, highlighted that the presence of copper-nickel massive sulphide veins in the drilling suggests the system has produced copper-nickel massive sulphides in the past. Further drilling is required to identify the source of the sulphide clasts.
Canadian Gold Corp. Clarification to News Improperly Disseminated by Third Party Wire Services
Canadian Gold Corp. has alerted wire services about unauthorized news releases appearing under its ticker, CGC. These releases pertain to other public companies and have no connection to Canadian Gold. The company has clarified that it has released only three pieces of news in the fall of 2024, pertaining to drilling results and a funding grant. Canadian Gold Corp., based in Toronto, is focused on expanding the high-grade gold resource at the Tartan Mine in Manitoba and holds a 100% interest in exploration properties in Ontario and Quebec.
Thunder Gold Identifies Multiple, New, Gold-In-Soil Anomalies at the Tower Mountain Gold Property, Ontario
Thunder Gold Corp has updated its exploration activity at its 100%-owned Tower Mountain Gold Property in Ontario. The recent soil sampling program identified about 2,500,000 square meters of anomalous gold. Around 80% of the observed anomalies are located in or within 500 meters of the Tower Mountain Intrusive Complex (TMIC). About 66% of the identified gold-in-soil anomalies are new targets with little to no previous sampling or drilling. The survey also identified a total anomalous area 2-3 times larger than what is currently drill-tested. The company's CEO, Wes Hanson, is optimistic about the potential to significantly increase the mineralized footprint in and around the TMIC.
Silver Elephant Delivered 31,693 Tonnes of Paca Minerals Grading 184g/t Silver in October, Set New Monthly Production Record
Silver Elephant Mining Corp. announced that in October 2024, it mined 31,693 tonnes of silver with an average grade of 184 g/t from its Paca project and transported the products to Andean Precious Metals Corp. in Bolivia. Since the operation began in October 2023, the company has mined and shipped 237,377 tonnes of silver, amounting to 1,300,144 oz. The company plans to sell up to 800,000 tonnes of Paca oxide materials to Andean for between US$5 million and US$7 million. It also expects to receive US$2.5 million by January 2025 and remain debt-free. Andean has agreed to cover operating costs. Silver Elephant
Legacy Gold Announces Grant of Stock Options
Legacy Gold Mines Ltd. has announced the grant of incentive stock options to acquire a total of 1,020,000 common shares at a price of $0.58 per share. Half of these options will vest immediately and the remaining half on the first-year anniversary of the grant date. The options will expire five years from the date of grant. 700,000 options were granted to the company's officers and directors, and 320,000 to consultants. Legacy Gold Mines Ltd. is a Canadian-based company involved in gold exploration and development, holding an option to acquire a 100% interest in the Baner gold project in Idaho, USA.
Big Gold Announces Maiden Drill Program at Tabor's East Divide Target, Approved for Ontario Junior Exploration Program Funding
Big Gold Inc. has announced plans for its 2024 fall exploration activities, which will include drilling at the Tabor Property situated in Thunder Bay, Ontario. The maiden drill program will target the East Divide Target Zone, which has shown promising samples in previous explorations. Big Gold will work with Laframboise Drilling to complete the drilling. Furthermore, the company has received approval to participate in the Ontario Junior Exploration Program (OJEP), receiving non-dilutive funding up to CAD$200,000 to aid in 2024/25 exploration activities. The province of Ontario is actively investing in early exploration, with OJEP funding up to 50% of eligible expenses for projects such as Tabor Property.
Compass Announces Fully Subscribed Convertible Debenture Offering
Compass Gold Corp., based in Toronto, Ontario, plans to issue 600 convertible debenture units at $1,000 each in a non-brokered private placement, aiming to raise $600,000. The company has secured full commitments for this offering, which is expected to close by November 30, 2024. The proceeds will be used to fund mineral exploration at Tarabala in Southern Mali and development of a small gold mining operation. Each debenture unit includes a $1,000 unsecured convertible debenture and 5,000 common share purchase warrants, each exercisable to acquire one additional common share at $0.18 for 12 months following the closing date. The debentures, bearing
Endurance Reports Drill Discoveries at the Crown Zone - 147.5 gpt Gold over 1.0 Metre and 7.61 gpt Gold over 5.7 Metres
Endurance Gold Corporation has announced the results from five additional diamond drill holes at the Crown Zone of its Reliance Gold Project. This zone, previously undrilled, is located between the Imperial and Eagle Zones. The 2024 drilling program aims to expand gold zones within the 2-km long Royal Shear structure. The highlights include two drill holes that contain visible gold, with the highest-grade gold sample returned so far on the Reliance property coming from one of these intersections. The five holes were testing the undrilled gap between the Eagle and Imperial Zones and have successfully demonstrated that the host structural setting and gold mineralization continue in this area.
DynaResource Reports October Production Demonstrating Strong Month Over Month Metal Production Growth at the San Jose de Gracia Mine
DynaResource, Inc. announced its October 2024 operating results, revealing a successful month with 2,626 ounces of gold produced and an average of 826 tons of gold processed per day at its San Jose de Gracia Mine in Mexico. This reflects a 26% increase in gold production from September 2024. The company also reported an 11% increase in the amount of tons milled and a 7.3% increase in the average tons processed per day. DynaResource, Inc. attributed these strong results to operational changes and an ongoing optimization program aimed at increasing profitability through cost-cutting measures, improved grade control, increased access to working areas, and better use of existing infrastructure. They are targeting a full year
Hercules Intersects 338 Meters of 0.47% Cu with Mineralization Increasing at Depth and to the North
Hercules Metals reports strong copper mineralization at its Idaho property, indicating promising exploration.
Kirkland Lake Discoveries Commences Drilling at Hargreaves Historical Shaft and Follows-up on Jo Zone Footwall Intercept of 1.22 g/t Au over 74 m on KL West
Kirkland Lake Discoveries has announced the start of drilling at the Kirkland Lake Project on the KL West Property in Toronto, Ontario. The drilling, which will cover approximately 1,500m, is part of the fall 2024 drill program and will test two areas: the Hargreaves Historical Shaft and Area, and the Jo Zone Footwall. The Hargreaves area is notable for its close proximity to the Kirkland Lake Main Break, a geological structure associated with over 28 Moz of gold.
Purepoint Uranium Increases Private Placement to $2,200,000
Purepoint Uranium Group Inc. has increased its non-brokered private placement offering from $2 million to $2.2 million to accommodate new strategic shareholders. The company also announced a 10:1 consolidation of its common shares, effective November 20, 2024, aligning its share structure with its growth strategy. The offering will issue up to 7,333,333 units at $0.30 each, with each unit comprising one post-consolidation share and one share purchase warrant. The company is a leading explorer with advanced projects in Canada's Athabasca Basin, operating in partnerships with industry leaders. The closing of the offering is still subject to regulatory and corporate approvals.
Exploits Commences Drilling at Bullseye Gold Property Targeting West Side of the Appleton Fault Zone in Central Newfoundland
Exploits Discovery Corp. has commenced exploration drilling operations at its Bullseye claims in Central Newfoundland, using Major Drilling Group International Inc. for the exploration drill program. The initial appraisal of the Appleton Fault Zone will begin within the next 48 hours, followed by drilling around the Saddle Zone where previous drilling yielded promising results. Bullseye is a significant exploration property due to its location between New Found Gold Corp.'s Queensway North and Kingsway claims. The current 2500-metre program marks the fourth phase of exploration drilling on Bullseye since its acquisition in September 2022.
K2 Gold Reports Assays of up to 375 g/t Au and 2.91% Cu in Rocks at Mojave Project
K2 Gold Corporation announced the first results of the Fall 2024 rock sampling program at the Mojave Project in Inyo County, California. The program explored the Gold Valley, Soda Valley, and Cerro Gordo target areas. Results revealed high grade gold and copper in Gold and Soda Valley respectively. In Gold Valley, rock grab samples returned up to 375 g/t Au and 142.5 g/t Au, with visible gold observed. In Soda Valley, 9 samples returned >1% Cu, including 2.91, 2.61, and 2.47% Cu. Results for 105 samples from Cerro Gordo are pending. The results demonstrate the scale and intensity of the mineralization system at the Moj
Bayridge Resources Drilling Update at Waterbury East Project
Bayridge Resources Corp. has completed its autumn 2024 drilling program at the Waterbury East uranium project in Canada's Athabasca Basin. The program, which drilled six holes totaling 2,721 meters, focused on two key target areas and tested multiple targets. The company's CEO, Saf Dhillon, stated that the initial results were encouraging, with signs of elevated uranium counts, graphite concentrations, shearing, faulting and alteration. As a result, a follow-up drill program is planned for the new year. The objective of the drilling was to follow up on historic uranium results and test prospective structures.
Kodiak Drills New Shallow High-Grade Copper Mineralization at 200m Step-Out from Adit Zone
Kodiak Copper Corp. has shared its drilling results from the 2024 program at its MPD copper-gold porphyry project in southern British Columbia. The results from 10 drill holes at various zones are promising, with shallow high-grade copper mineralization with bornite found in a 200 metre step-out from the Adit Zone. This could potentially lead to a significant extension, as the mineralized core is similar to the high-grade sulphide facies discovered below the historic Adit Zone. The footprint of the Adit Zone could expand significantly if future drilling confirms these findings. Two new holes were also drilled in an area not previously explored, extending the north-south strike of Adit to 500 metres.
Torex Gold Receives Approval for Normal Course Issuer Bid
Torex Gold Resources Inc. has received approval from the Toronto Stock Exchange to make a normal course issuer bid (NCIB), authorizing the company to buy up to 7,116,777 of its own common shares, which is around 10% of the public float, between November 21, 2024 and November 20, 2025. The move is seen as a way to return capital to shareholders and the purchases will be made on the open market. All shares bought under the NCIB will be cancelled and the company will fund these purchases with its available working capital.
Desert Gold Receives CAD $1,258,286 in Proceeds from Warrant Incentive Program
Desert Gold Ventures Inc. has closed its warrant exercise incentive program, intended to encourage the exercise of over 28 million unlisted common share purchase warrants issued as part of the company's private placement in 2022. 15,728,571 eligible warrants were exercised, generating proceeds of CAD $1,258,286 which will be used for the development of its SMSZ Gold Project in West Mali and for working capital. Participants were issued an equal number of incentive warrants, allowing them to purchase additional shares within three years. The program awaits final approval from the TSX Venture Exchange.
Neotech Metals Corp. Completes Inaugural Drill Program at Hecla-Kilmer
Neotech Metals Corp. has completed its maiden drill program at its Hecla-Kilmer project, conducting nearly 5,000 meters of drilling. The drill cores will be assessed, sampled, and sent to labs for tests. The program aimed to extend from existing holes and additional testing was done in the South Rim zone and other targets. The company reported no safety incidents and CEO Reagan Glazier expressed optimism about the project's future results. Neotech is a mineral exploration company committed to finding and developing valuable resources worldwide.
Puranium Energy Announces AGM
Puranium Energy Ltd. announced potential delays in mailing the Management Information Circular and Notice of Meeting due to the ongoing Canada Post strike. The company's Annual General Meeting will be held on December 17, 2024, in Toronto. Shareholders can access the necessary documents online or request them via email. The company specializes in uranium exploration, with significant interests in Namibia. All signed proxy forms should be submitted at least 48 hours before the meeting.
Zeb Announces New CFO
ZEB Nickel Corp. has announced that Mr. Kyle Appleby will immediately assume the role of CFO, replacing outgoing CFO Dave Cross. Appleby brings a wealth of experience from various industries, including junior mining, food production, agriculture, cannabis, technology, and cryptocurrency. He has held the CFO position for numerous companies in Canada, the US, and London, and is proficient in financial reporting, IPOs, fundraising, and corporate governance. ZEB Nickel Corp. is currently developing its flagship project, the Zeb Nickel Project in Limpopo, South Africa, which is focused on exploring and developing mineral deposits critical for the production of rechargeable batteries.
Canadian Critical Minerals Announces Debt Settlement Agreement
Canadian Critical Minerals Inc. (CCMI) has agreed to settle $250,000 of accounts payable through the issuance of 5 million units, each consisting of one common share and half of one warrant, subject to approval by the TSX Venture Exchange. Each full warrant can be converted into a common share at $0.075 per share for two years. CCMI is a mining company focused on copper production assets in Canada, including the wholly-owned Bull River Mine project and a 30% stake in the Thierry Mine project.
BluMetric Announces Cleantech Water Contract with Tier 1 Cruise Line
BluMetric Environmental Inc., an environmental consulting and engineering firm, will supply a Sea Water Reverse Osmosis (SWRO) system to a Tier 1 Cruise Line on a remote Caribbean island in the Bahamas. The contract, worth around CA$1.1 million, will replace an existing SWRO system and produce 80,000 gallons of potable water per day. The project will be carried out by Gemini Water, a recent acquisition of BluMetric, and is expected to be completed in 2025. Given the market demand for its water systems, BluMetric is considering expanding its Florida-based operations to roughly double its manufacturing capacity.
US Bitcoin Reserve to Kick Off Q1 2025? What It Means for Price & Global Markets | Natalie Brunell
Senator Lummis proposes a U.S. Bitcoin Reserve by converting gold reserves into Bitcoin....
Elemental Altus Royalties Announces Record Quarterly Cash Flow and EBITDA
Elemental Altus Royalties Corp. has reported its financial and operating results for the three and nine months ended September 30, 2024, indicating record quarterly cash flow and EBITDA. The company has adjusted its guidance range for revenue and reduced its gold-equivalent ounces guidance for 2024. Financial highlights include a 32% increase in adjusted revenue to $4.8 million and a 3% increase in gold equivalent ounces to 1,941. The company also recorded a 72% rise in adjusted EBITDA to $3.7 million and a 42% increase in operating cash flow to $2.8 million. Elemental Altus completed the acquisition of a 4% royalty on the Mactung tung
Rick Rule's Wisdom & a New Copper Porphyry Exploration Program in BC
Discussion on Rick Rule's investment wisdom and insights from Kingfisher Metals' exploration program....
Silver Bullet Mines Corp. Intercepts Historical Tunnel at Super Champ and Assays High Grade Silver (1093.2 oz Silver/Ton)
Silver Bullet Mines Corp. announced the unexpected discovery of a historical mining tunnel and waste piles while developing the Super Champ vein structure. There is no documentation about this tunnel or what was mined from it, but it is estimated to be over a century old. The company's CEO, A. John Carter, views this as a significant discovery, which further validates their hypothesis for high grade silver and potentially gold production. Visible silver in the Tunnel Zone was reported by the field team. Samples from this zone showed high grade silver, signaling potential for revenue.
Delta Resources Announces Closing of a Premium Charity Flow Through Financing and Ron Kopas Joins the Board of Directors
Delta Resources Limited has successfully closed its non-brokered private placement offering, issuing 25,000,000 Charity Flow-Through Units at $0.20 per unit, totaling $5 million in gross proceeds. The funds raised will be used to finance Canadian exploration expenses. Additionally, Ron Kopas, a business founder and investor with international experience, has joined the company's Board of Directors.
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